Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Polkadot Forum => Topic started by: Cristiano on May 22, 2021, 12:49:41 PM
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Following an impressive bullish run to the high $48, Polkadot (DOT) plunged to $16 low. The bulls bought the dips as the price corrected upward.
Polkadot (DOT) Price Long-Term Analysis: Bullish
The uptrend was terminated at a high of $32. But as bulls fail to sustain DOT price above $32 high, the altcoin is likely to fall and revisit the previous low. At the previous low, the price action is characterized by candlesticks with long tails. The long candlestick tails suggest that there is strong buying pressure above $16 support.
On the downside, Polkadot is likely to retrace to the previous low.
Nonetheless, if the previous low holds, DOT price is likely to be range-bound between $16 and $32. In the meantime, the altcoin is retracing to the previous low at $16. If the current support holds, the altcoin is likely to be range-bound. However, the selling pressure will resume if the support is breached.
Polkadot (DOT) Indicator Analysis
DOT price has fallen to level 38 of the Relative Strength Index period 14. It indicates that the market is approaching the overbought region. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move.
(https://i.imgur.com/wjRaFzS.jpg)
Sorce (https://cryptonews.net/en/news/analytics/683948/)
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Polkatdot made a lot xxx since last march and along with the whole market IMHO people started cashing out with to few bids at 21 week MA and little interest at this level so we got a correction when again holders were found and prices looked atractive
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16$ is really a very lovely price for new users and it has very strong resistance. I hope if someone manages to buy at 16$ it is almost guaranteed that he is not going to regret for buying. I am also waiting for a chance to buy more as this is the next eth project and very bullish in the long term. So no one should miss the chance if he can buy at 16-20$
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Dot is reaping very good reviews and looks a very promising investment looking at the bitcoin halving cycle we still are not at new ATH but for dot to perform en pair with BNB there still needs to be more utility
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PolkaDot coin is a popular coin. There are a lot of investors now. At one time it seemed that the price of coins would pump up a lot but it did not happen. Polka dot coin is currently priced at 22.58. However, in order to compete with BNB in the market, it will have to travel a long way and go a long way. Since the prices of almost all the coins in the cryptocurrency market are down now, if you don't invest in Ricks now, there is a possibility of getting good results in the future.